Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Running deficits to fund recurrent expenditure is like a household borrowing money to pay for groceries. That is what the previous government did, and if we do not get this situation under control then our children and grandchildren will have to pay the cost for our living standards today, with interest. That will force them either to pay higher taxes or to accept lower services down the track—there is no way around it. The money that is being spent by government today will have to be paid back eventually. (Time expired)